India’s cut and polished diamond (CPD) exports are expected to hit a five-year low in 2023-24 with a dip of around 25-30 per cent to USD 15-16 billion, according to a rating agency.
The demand in the near term is expected to remain subdued with no significant recovery anticipated in the segment in FY’25, CareEdge Ratings said in a note.
The US and China, the primary diamond-consuming markets, together account for approximately 65 per cent of India’s diamond exports.
